China trade war could last 20 years, says Ma

Jack Ma, the founder of Chinese retail giant Alibaba, is backing down on his promise to create 1 million jobs in the USA over the next five years, amid the ongoing trade war between President Trump and China.

Ma met Trump two years ago and laid out Alibaba's plan to bring small US businesses onto its platform to sell to Chinese consumers.

"The promise was made based on China and the USA having a collaborative and friendly relationship", he said in the Xinhuainterview. "The current situation has already destroyed this original premise".

Ma, who recently announced his impending retirement from Alibaba, has been vocal in his condemnation of the escalating trade conflict between the US and China. "There is no way to deliver the promise", he said.

Reiterating the need to focus on long-term plans instead of short-term ones, Ma called the growing dispute a "huge opportunity" and said: "If Alibaba cannot sustain and grow, no company in China can grow".

While promising to "promote the healthy development" of Sino-US trade, the 54-year-old entrepreneur noted that the "previous basis for trade has been undermined", amid ongoing trade conflict between the world's two largest economies. "If China and the United States maintain good economic and trade relations, there will be no problem at all in providing the United States with 1 million jobs or even 10 million jobs", Ma said.

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Manchester City vs Lyon, Champions LeagueWe have a fantastic momentum and there's still a lot of room for this club to grow - so I am very pleased with where I am. "I will be on the touchline and try to make the right decisions and for the rest nothing will change".